Cabot Corp. (CBT) Tops Q4 EPS by 2c

Cabot Corp. (NYSE: CBT) reported Q4 EPS of $0.85, $0.02 better than the analyst estimate of $0.83. Revenue for the quarter came in at $911 million versus the consensus estimate of $933.33 million.

Commenting on the results, Cabot President and CEO Patrick Prevost, said, “In fiscal 2014, we delivered $593 million of adjusted EBITDA through record-setting performance in Reinforcement Materials and Performance Materials. We also continued to focus on improving the competitiveness of our businesses through strategic expansions, the introduction of new products, and the execution of key business initiatives. Over the past year, we successfully commercialized our new carbon black plant in China and completed the acquisition of our partner’s share of our joint venture in Mexico. We saw the contribution from a number of new products, particularly for specialized applications such as adhesives, batteries, higher performance tires and toners. We also completed the divestiture of our Security Materials business and received the final payment for the sale of our Supermetals business. We were successful at delivering earnings growth this year as we continued to focus on creating value for our shareholders.”

Outlook

“We delivered strong adjusted EBITDA growth in fiscal 2014 for the fifth consecutive year and are pleased with the record-setting performance in both Reinforcement Materials and Performance Materials. As we look ahead, we continue to see uncertain global macroeconomic conditions,” Prevost said, commenting on the outlook for the Company. “These include weak economic conditions in South America and Europe, slowing growth in China, and the weakening of various foreign currencies against the U.S. dollar. On the positive side, we expect to see strong volumes in the second half of our fiscal year in Purification Solutions as coal-fired utilities begin to comply with mercury removal regulations in the U.S. We will leverage our global reach and industry-leading positions in order to offset these macroeconomic conditions and continue to deliver value to our shareholders in 2015.”

For earnings history and earnings-related data on Cabot Corp. (CBT) click here.

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